Are you sure that you have the correct message board? I don't see any news about a hearing. I'm sure others, like me, would like you to be a little more specific if you wish some feedback.
What a great company - a special $2.00 per share dividend for Christmas. Thank you DKS management. And a special thank you to our Congress for its lack of clarity, common sense and fiscal responsibility in making these special dividends possible.
I have no idea and I can't see any news, but I do have a couple of guesses. First, since CACC opened up 10% below yesterday's close, about $9 down, I'd guess that someone had to dump a large number of shares quickly and therefore the price dropped to accomodate the order. Secondly, it could be a short seller's group recommending to its people to short it. IMHO the 1st guess is more likely. I'm not worried about the stock at this time with no news out.
I read it. Are you holding onto capital losses in case the capital gains taxes rise next year? Why not sell 10-15% a year if you want to diversify your PETM stock?
Just FYI - If I'm correct, this form may show us how to allocate our original EP basis to the new KMI shares, warrants, and cash. On the KMI website under 'El Paso Merger Consideration' it says:
"Treasury Form 8937 is expected to be made available within 45 days of the 5/25/2012 closing."
Form 8937 is titled "Report of Organizational Actions Affecting Basis of Securities".
Most of my cash is going into CD's too. Lousy rates but I think cash will be king for the next 6-12 months. I'm worried that the global economy and problems may push the market down so I want to have cash to buy stocks at lower prices. Or if interest rates start rising I'll stay in cash and ladder my cd's.
You will get cash for your fractional shares soon. In your example, 200 shares EP becomes 84.62 shs KMI. So 84 full shares would be issued and the 0.62 of a share will be sold. It takes a while to sell all of the fractional shares. Most likely you'll see the results by Friday or early next week.
IMHO this is very good news for XIDE, but not stock price moving good. The town of Frisco [Dallas suburb] has been growing fast and the XIDE facility was becoming more and more surrounded by homes and businesses. It is a future liabilty and eventually more and more potential lawsuit bait.
Yes, the cleanup will cost. That's probably the main reason the stock didn't move. But by getting the town onboard and agreeing to terms and timetables, XIDE is most likely cancelling out most future liabilities.
The insider selling is option related and not a worry. You are right about this stock continuing to go up. That's bad news for the shorts, huh?
I think I just didn't make myself clear. I was trying to say that our original basis for EP gets prorated to all 3 things received; KMI stock, KMI warrants, and the cash.
I did say "..the other half to the taxable event of the cash received.." and by that I meant that all of the cash received will be a taxable event.
Others have suggested that all of the original EP basis will be considered as the 'cash received' basis for tax purposes. IMHO, only a portion of my original EP basis will be allocated as the basis for the cash and that allocation will most likely be supplied by KMI upon the distribution.
Whew; I'm not sure I made myself clear this time either!
I had a buyout similar to this and the company put out instructions for the allocation of basis about a week after the close. Briefly, we were instructed to allocate a percentage of our original basis to the new shares and the remainder to the cash portion.
In this example we are using for Cappy, and using EPholders figures,it appears that the total of KMI shares and warrants is about half of the total value received. The cash recieved is about half of that total also.
So my guess is that 1/2 of Cappys original basis will be allocated to the cash and the rest split between the shares and the warrants, with the stock shares obviously taking the bulk of the allocation there.
If that happens, about half of his original basis will carry forward to the new shares and warrants and the other half to the taxable event of the cash received. I'm just rounding for discussion's sake. When we got instructions on my other buyout they issued exact percentages out to the hundreths.
I also hope for everyones sake that KMI issues clear instructions and doesn't chicken out with a "contact your own tax advisor" disclaimer.